Legal Question in Wills and Trusts in Florida

You could devise the property to another person in one of two ways. Put it in writing in a will. This is a good way to do it and it is always preferable to have a will, especially when you want something to go to somebody that wouldn't automatically get it by statute, such as non-family members. The other way is to title the property jointly with the other person. This does avoid the probate process but there are down sides. As far as inheritance tax, it depends on how much your estate is worth. Most of the time there is none, unless you have a multimillion dollar estate. That is something that can't be fully explored on here so I suggest you get with an attorney and discuss your goals with him/her.

If you want to maintain complete control over the property during your lifetime, then a Will is your best option. If that is not a concern, you could add there name on to deed or have them named as your remainder beneficiary.

Inheritance tax will be based upon your net worth at date of death. If it does not exceed $3.5 million in 2009 (unlimited currently for 2010), then no tax will be owing to the state of Florida or IRS. If you move to another state, the inheritance tax threshold can be significantly lower (be carefull).

You may be able to do this with a will, but it depends on how you currently hold title with your partner. In fact, a will is usually the best option any time you want any of your belongings to go to someone in particular who is not a family member. You may wish to consult with an estate planning attorney for specific legal advice. Regards,

You can leave the property to this person through a will or trust (which is private). You can find out more information and how to do it on my website FloridaLegalServicesOnline.com or call me on the phone number on the website.Look under the tab entitled legal information.